Dangote Sugar Refinery Plc has posted a revenue of ₦626.24 billion for the nine months ended September 30, 2025, representing a 29 per cent increase from ₦484.43 billion recorded in the same period of 2024.
The company’s unaudited financial statement, filed with the Nigerian Exchange Limited (NGX) and obtained by our correspondent on Sunday, revealed that despite the impressive revenue growth, Dangote Sugar reported a loss after tax of ₦10.59 billion, a significant improvement compared to the ₦184.36 billion loss recorded in the corresponding period of 2024.
According to the company, the decline in losses was driven by improved operational efficiency, reduced finance costs, and recovery from previous fair value losses on assets.
The company’s gross profit rose sharply to ₦90.06 billion in 2025, up from ₦19.82 billion in 2024, reflecting stronger sales performance and better cost management. However, administrative expenses increased to ₦20.53 billion from ₦11.83 billion due to higher operating costs and inflationary pressures.
Finance income dropped to ₦3.34 billion from ₦6.93 billion, while finance costs declined significantly to ₦95.59 billion, compared to ₦300.17 billion a year earlier. This reduction led to a smaller net finance loss of ₦92.25 billion, down from ₦293.25 billion in the corresponding period of 2024.
During the review period, Dangote Sugar recorded an operating profit of ₦81.12 billion, compared to ₦8.16 billion achieved in the same period of 2024, highlighting a rebound in core operations.
The company’s total assets stood at ₦1.02 trillion as of September 2025, slightly lower than the ₦1.05 trillion reported at the end of December 2024. Total equity attributable to shareholders declined to ₦198.56 billion from ₦212.28 billion, while total liabilities amounted to ₦817.15 billion.
Despite the loss position, Dangote Sugar maintained a strong balance sheet, with property, plant, and equipment valued at ₦615.69 billion and inventories worth ₦130.5 billion, indicating a solid asset base to support future operations.
The company’s earnings per share (EPS) improved to a loss of 87 kobo, compared to a loss of ₦15.18 in the previous year, showing a substantial recovery in profitability indicators.
Dangote Sugar Refinery, one of the largest sugar producers in Sub-Saharan Africa, continues to implement its Backward Integration Project (BIP) aimed at making Nigeria self-sufficient in sugar production. The company has been investing in sugarcane plantations and refining capacity across its sites in Nasarawa, Adamawa, and Niger States as part of its long-term growth plan under the Dangote Industries Group.
Industry analysts say the company’s performance reflects better cost control, reduced exposure to foreign exchange losses, and a gradual rebound in consumer demand despite macroeconomic challenges.
They, however, noted that exchange rate volatility, energy costs, and logistics constraints remain potential headwinds to the company’s performance in the coming quarters.
Dangote Sugar said it remains committed to achieving its Sugar Master Plan objectives and will continue to optimise production efficiency, expand its refining capacity, and strengthen its distribution network to enhance shareholder value.
